Common use of Concession Agreements Clause in Contracts

Concession Agreements. Borrower hereby represents and warrants to Lender the following with respect to each of the Concession Agreements: (i) Borrower has heretofore provided Lender with a true and correct copy of the Concession Agreement; (ii) there have not been amendments or modifications to the terms of the Concession Agreements other than pursuant to written instruments, copies of which have been previously provided to Lender; (iii) Mortgage Borrower’s interests in the Concession Agreements are not subject to any Liens or encumbrances superior to, or of equal priority with, the Mortgage; and (iv) as of the date hereof, each of the Concession Agreements is in full force and effect and no default by Mortgage Borrower, or to the best knowledge of Borrower, any other party thereto has occurred under either of the Concession Agreements and there is no existing condition which, but for the passage of time or the giving of notice, could result in a default under the terms of either the Concession Agreements.

Concession Agreements. Borrower hereby represents and warrants to Lender the following with respect to each of the Concession Agreements: (i) Borrower has heretofore provided Lender with a true and correct copy of the Concession Agreement; (ii) there have not been amendments or modifications to the terms of the Concession Agreements other than pursuant to written instruments, copies of which have been previously provided to Lender; (iii) Mortgage Borrower’s interests in the Concession Agreements are not subject to any Liens or encumbrances superior to, or of equal priority with, the Mortgage; and (iv) as of the date hereof, each of the Concession Agreements is in full force and effect and no default by Mortgage Borrower, or to the best knowledge of Borrower, any other party thereto has occurred under either of the Concession Agreements and there is no existing condition which, but for the passage of time or the giving of notice, could result in a default under the terms of either the Concession Agreements.